Colombia: Sugar Market 2022

Sugar Market Size in Colombia

The Colombian sugar market fell modestly to $X in 2021, remaining relatively unchanged against the previous year. In general, consumption, however, recorded a mild shrinkage. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Sugar Production in Colombia

In value terms, sugar production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a mild contraction. The pace of growth appeared the most rapid in 2014 with an increase of 16% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

In 2021, the average sugar yield in Colombia stood at less than X kg per ha, standing approx. at the previous year's figure. In general, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of sugar production in Colombia stood at less than X ha, approximately reflecting 2020. In general, the harvested area continues to indicate a relatively flat trend pattern.

Sugar Exports

Exports from Colombia

In 2021, shipments abroad of sugar decreased by -19.1% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports showed a perceptible slump. The pace of growth appeared the most rapid in 2017 with an increase of 39%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, sugar exports dropped significantly to $X in 2021. In general, exports showed a perceptible contraction. The growth pace was the most rapid in 2017 when exports increased by 41%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Chile (X tons) and Peru (X tons) were the main destinations of sugar exports from Colombia, together comprising 56% of total exports. These countries were followed by Haiti, Germany, Ecuador, Trinidad and Tobago, Jamaica, France, Belgium and Spain, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were in France (with a CAGR of +29.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Chile ($X) and Peru ($X) appeared to be the largest markets for sugar exported from Colombia worldwide, together accounting for 54% of total exports. Haiti, Germany, Ecuador, Trinidad and Tobago, France, Spain, Jamaica and Belgium lagged somewhat behind, together accounting for a further 33%.

Among the main countries of destination, France, with a CAGR of +30.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sugar export price stood at $X per ton in 2021, flattening at the previous year. Over the period under review, the export price, however, recorded a noticeable contraction. The growth pace was the most rapid in 2016 when the average export price increased by 7% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Spain ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sugar Imports

Imports into Colombia

After two years of growth, supplies from abroad of sugar decreased by -38.5% to X tons in 2021. In general, imports showed a abrupt decline. The pace of growth was the most pronounced in 2016 when imports increased by 233% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, sugar imports reduced rapidly to $X in 2021. Overall, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2016 when imports increased by 266%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Bolivia (X tons) constituted the largest supplier of sugar to Colombia, accounting for a 50% share of total imports. Moreover, sugar imports from Bolivia exceeded the figures recorded by the second-largest supplier, Peru (X tons), threefold. Brazil (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Bolivia stood at +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+14.0% per year) and Brazil (-22.4% per year).

In value terms, Bolivia ($X) constituted the largest supplier of sugar to Colombia, comprising 49% of total imports. The second position in the ranking was taken by Peru ($X), with a 19% share of total imports. It was followed by Brazil, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Bolivia amounted to +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+8.6% per year) and Brazil (-26.9% per year).

Import Prices by Country

The average sugar import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, recorded a noticeable descent. The growth pace was the most rapid in 2016 when the average import price increased by 10% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Peru ($X per ton) and Ecuador ($X per ton), while the price for Brazil ($X per ton) and Nicaragua ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nicaragua (-3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform